BugSec and Cynet, two computer security companies have identified a security loophole in LG’s G3 smart phones. A built in app in G3 smart phones, naming Smart Notice, has enabled hackers to use the loophole to steal data. Upon information and following demonstrations from the researchers, LG has released a new version of Smart Notice containing a patch and urges users to run the new app ASAP.
Industry
Oxitec’s Gene Modified Mosquitoes Appear As Lone Mean To Fight Against Spread of Zika Virus
WHO on Thursday has warned for probable spread of Zika virus across the North and Central American countries. Ahead of rising concerns for Zika spreading, drug makers and scientists have commented that manufacturing of an appropriate vaccine may even require a decade. These warnings has opened a huge business potential for Oxitec, an Intrexon subsidiary. Oxitec’s gene modified mosquitoes are capable of ensuring security against Zika for large populations.
SkyBender: Google’s Secret Drone Project in New Mexico Using 5G Internet With a Cost of $300,000
Google has been reported to conduct secret tests over drones under codename of SkyBender at Spaceport America in New Mexico. The tech giant is using 5G wireless that involves millimeter wave technology which is considered as the future of high speed data transmission technology. Though the test results have been kept secret, but the $300,000 tests bring fortune for Virgin Galactic Spaceflights, reportedly suffering from cash crunch.
China stocks soar, but Shanghai suffers biggest monthly drop in 7 years
At the end of the month, Chinese stocks rallied and closed higher on Friday. Despite this, Shanghai Composite Index suffered its biggest monthly fall in the past seven years. The Chinese benchmark index Shanghai Composite tumbled 22.6 percent in January and this is the biggest monthly fall since October 2008. Chinese currency Yuan was marginally moved up against the US dollar on support extended by People's Bank of China (PBOC).
Challenge in Investment Banking and Trading Hurt Deutsche Bank
As an investment bank, a problem in investment-banking operation will damage the overall performance. Deutsche Bank suffered its first annual loss since 2008, followed by drastic drop of its shares.
Latest News
Microsoft Corp said its quarterly profit beat analysts' view, propelled by mounting demand for its cloud products. Quarterly net income, on an adjusted basis, amounted to $6.3 billion, up from $5.8 billion in the same period last year.
Reddit has initiated testing the official Android app on Thursday after releasing the beta version on December. Volunteers taking part in the previous test also remain as the first opportunists to test the official version. The official version is expected to override the hiccups existed in the third party application. The CEO of Reddit has hinted for going through massive modernization processes throughout 2016.
The Safari fault which has affected a range of Apple devices has been fixed. The fault was related to Apple's Safari Suggestions feature. Simply disabling this feature will stop Safari crashing says iOS developers.
South Korean steelmaker POSCO announced a consolidated net profit, excluding minority interests, of 181 billion won for 2015, down from 626 billion won in the previous year.
South American nation Venezuela is suffering from gasoline smuggling to neighboring nations. Gasoline is heavily subsidized in Venezuela. The cheaper gasoline smuggling has become a major revenue source in the crisis-hit Venezuelan economy. Venezuela's President has deployed soldiers in large number to keep constant vigil on its borders. Venezuela is losing foreign exchange revenue in US dollars because of smuggling of gasoline.
Global investors are withdrawing from Russian stock markets as volatility is high in equities and currency Ruble. The continuous drop in oil price is impacting the Russian economy much as it's the main revenue source for the country. The gap between onshore and offshore traded equities is narrowing down as foreign investors are selling off.
South African largest iron ore producer Kumba cuts as many as 3900 miners after prices plunged. Kumba decided to restructure the Sishen mines to become a low cost pit configuration and as a result, about 2,633 employees of Kumba and 1,300 contractors will be affected.
The Republican Debate is going to be held in Iowa State on Thursday. The fast food workers under the banner of ‘$15 per hour minimum wage movement’ have called strike on the very day apparently due to gain media attraction. The strike has been called demanding immediate implementation of the said minimum wage rate across the country and union rights. However, the demands have already been supported by many Democratic candidates and furnished in their election manifesto.
The British Pound strengthened against major global currencies after a report on UK's GDP growth. The report said that UK's economy speeded up during the fourth quarter of 2015. The rise in consumer demand helped the economy expansion. The British Pound recovered from the two-week low of 1.4338 against the US dollar to at $1.4314.
